Barrick Mining (NYSE:B) Sets New 52-Week High – What’s Next?

by · The Markets Daily

Shares of Barrick Mining Corporation (NYSE:B – Get Free Report) (TSE:ABX) reached a new 52-week high during mid-day trading on Monday . The company traded as high as $42.86 and last traded at $42.0770, with a volume of 644947 shares trading hands. The stock had previously closed at $41.34.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. National Bank Financial raised Barrick Mining from a “sector perform” rating to an “outperform” rating in a research report on Monday, September 22nd. BMO Capital Markets reissued a “market perform” rating on shares of Barrick Mining in a research report on Monday, September 22nd. Cowen reaffirmed a “buy” rating on shares of Barrick Mining in a report on Wednesday, November 26th. UBS Group lifted their price target on shares of Barrick Mining from $39.00 to $47.00 and gave the stock a “buy” rating in a research note on Monday. Finally, TD Securities upped their price objective on shares of Barrick Mining from $38.00 to $46.00 and gave the company a “buy” rating in a research report on Wednesday, October 8th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Barrick Mining presently has a consensus rating of “Buy” and a consensus price target of $45.67.

Read Our Latest Stock Report on Barrick Mining

Barrick Mining Stock Down 3.0%

The company has a debt-to-equity ratio of 0.14, a current ratio of 2.94 and a quick ratio of 2.33. The stock has a market capitalization of $69.29 billion, a price-to-earnings ratio of 19.84, a PEG ratio of 0.44 and a beta of 0.40. The firm’s fifty day moving average is $34.93 and its 200-day moving average is $27.27.

Barrick Mining (NYSE:B – Get Free Report) (TSE:ABX) last announced its quarterly earnings data on Monday, November 10th. The gold and copper producer reported $0.58 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.01. The company had revenue of $4.19 billion during the quarter, compared to analyst estimates of $4.20 billion. Barrick Mining had a net margin of 24.53% and a return on equity of 9.48%. The firm’s revenue for the quarter was up 23.2% compared to the same quarter last year. During the same period last year, the business earned $0.09 EPS. On average, sell-side analysts predict that Barrick Mining Corporation will post 1.47 earnings per share for the current year.

Barrick Mining Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Friday, November 28th will be issued a $0.175 dividend. This is an increase from Barrick Mining’s previous quarterly dividend of $0.15. This represents a $0.70 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend is Friday, November 28th. Barrick Mining’s dividend payout ratio is presently 33.82%.

Institutional Investors Weigh In On Barrick Mining

Institutional investors and hedge funds have recently made changes to their positions in the company. Arlington Trust Co LLC acquired a new position in Barrick Mining in the third quarter worth $26,000. JPL Wealth Management LLC bought a new position in shares of Barrick Mining in the 3rd quarter worth about $28,000. Pin Oak Investment Advisors Inc. bought a new stake in shares of Barrick Mining during the 3rd quarter valued at about $31,000. Provenance Wealth Advisors LLC acquired a new stake in Barrick Mining during the third quarter worth about $32,000. Finally, Investors Research Corp bought a new position in Barrick Mining in the third quarter worth about $36,000. 90.82% of the stock is owned by institutional investors and hedge funds.

Barrick Mining Company Profile

(Get Free Report)

Barrick Gold Corporation is a sector-leading gold and copper producer.  Its shares trade on the New York Stock Exchange under the symbol GOLD and on the Toronto Stock Exchange under the symbol ABX.
 
In January 2019 Barrick merged with Randgold Resources and in July that year it combined its gold mines in Nevada, USA, with those of Newmont Corporation in a joint venture, Nevada Gold Mines, which is majority-owned and operated by Barrick.

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